Explorer

India Logs 5.4 Per Cent GDP In Q3, Estimated To Rise 8.9 Per Cent In FY22, Says Govt Data

India’s Industrial output grew a mere 0.4 per cent in December, a much slower pace than expected

New Delhi: The gross domestic product (GDP) of India expanded 5.4 per cent in the October-December quarter (Q3FY22), according to the government data published on Monday.

The National Statistical Office’s (NSO’s) second advance estimates for FY22 pegged the current fiscal year’s real gross domestic product (real GDP) growth at 8.9 per cent compared with 9.2 per cent projected in the first advance estimates.

The economy expanded stupendously 20.1 per cent in the April-June quarter and 8.4 per cent in July-September, mostly because of weak performances in the same quarters in 2020 when the Covid-19 pandemic took hold and nationwide lockdowns were imposed.

"Real GDP or Gross Domestic Product at Constant (2011-12) Prices in FY21-22 is estimated to attain a level of Rs 147.72 lakh crore, as against the First Revised Estimate of GDP for the year 2020-21 of Rs 135.58 lakh crore, released on 31.01.2022," said Ministry of Statistics and Programme Implementation.

However, India’s Industrial output grew a mere 0.4 per cent in December, a much slower pace than expected.

The growth in the October-December quarter is lower than the previous quarter (July-September) basically due to fall in growth in sectors like agriculture, mining and manufacturing during the period under review. However this is the fifth consecutive quarter when there has been a positive growth in GDP.

The Reserve Bank of India (RBI) has been prioritising growth and held interest rates at record lows at its February meeting, despite inflation breaching the upper limit of its target range.

The reason for this downward revision is the recent upward revision in FY21 GDP contraction, to negative 6.6 per cent from negative 7.3 per cent.

Economists had expected about 6 per cent year-on-year (YoY) growth during the three months to end-December, slower than the previous two quarters, with new fears rising over slowing momentum after Russia's invasion of Ukraine.

Meanwhile, the Economic Survey has projected a growth rate of 9.2 per cent for the current financial year ending March 2022.

View More
Advertisement
Advertisement
Mon Feb 03, 3:36 am
connaught place
11.4°
Precipitation: 0 mm    Humidity: 78%   Wind: NW 8.8 km/h
See Today's Weather
Powered By:
Accu Weather
Advertisement

Top Headlines

Maha Kumbh's Third 'Amrit Snan' Begins On Basant Panchami — Watch
Maha Kumbh's Third 'Amrit Snan' Begins On Basant Panchami — Watch
ISRO’s NVS-02 Mission Suffers Setback After Thrusters On Spacecraft Fail To Fire
ISRO’s NVS-02 Mission Suffers Setback After Thrusters On Spacecraft Fail To Fire
US President Trump To Cut-Off Funding To South Africa Over 'Human Rights Violation'
US President Trump To Cut-Off Funding To South Africa Over 'Human Rights Violation'
Delhi Poll Official Responds To Kejriwal’s ‘Hooliganism’ Complaint As AAP, BJP Trade Charges Before Polls
Delhi Poll Official Responds To Kejriwal’s ‘Hooliganism’ Complaint As AAP, BJP Trade Charges Before Polls
Advertisement
ABP Premium

Videos

Delhi Election 2025: Raghav Chadha Discusses Economy, Education, and Infrastructure | ABP NEWSDelhi Election 2025: BJP Accuses AAP of Corruption, Highlights Sting on Somnath Bharti | ABP NEWSDelhi Election 2025: Arvind Kejriwal Warns Delhi Voters Against Fraud and BJP Threat to Slums | ABP NEWSDelhi Election 2025: Raghav Chadha Defends AAP's Welfare Policies in Exclusive Interview  | ABP NEWS

Photo Gallery

Embed widget